New Member in Portland, OR, Beaverton area

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New Member in Portland, OR, Beaverton area

Mike Wilson
Beaverton, OR · Member since 2016 · 6 posts · 1 vote

Hi BP Community.  I just joined and live in the Portland, Oregon area in Beaverton.  I have a 8-5 career job and my experience with real estate to date has been a short stint with a commercial real estate developer and helping a college teacher with his own flip.  I'm trying to learn as much about RE investin as possible while saving some capital.  I've listened to 5-6 DP podcasts which have been extremely insightful.  I'm now interested learning more about non-performing mortgage notes as a way to enter the market.  

The Beaverton market has been very hot lately, and I've seen 3-4 flips in my neighborhood alone over the past 6 months.  

I'm here to learn and hopefully meet some great people!

Mike

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  • Jay Raught
    Investor · Newark, DE · Member since 2015 · 248 posts · 178 votes
    10y

    @Mike Wilson

    I invest in Non-performing and performing notes. Check out the Notemba podcast, that will give you good insight to notes. Scott Carson has webinars each week with different topics related to notes. I am currently looking over assets this weekend!! Exciting times!!! I just had a non-performing note reinstate this month!!!

    Do not hesitate to ask any questions of me related to note investing. Good luck and I look forward to hearing from you. 

    0Reply
  • Mike Wilson
    OP
    Beaverton, OR · Member since 2016 · 6 posts · 1 vote
    10y

    Thanks for the recommendations @Jay Raught!  The Notemba podcast looks very interesting, I just subscribed and will check it out along with the Scott Carson webinars.  A couple questions for you:

    1. From what you have seen, what is the cost of entry for non-performing notes?  

    2. Do you focus on a specific market (region, property type, value, etc.) for note investing?  This is probably too broad a question but just curious.  

    With compound interest and the potential for re-fi payouts it looks like a powerful way to build a portfolio.

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  • Jill DeWitPro Member
    Investor · Scottsdale AZ · Member since 2015 · 1k+ posts · 423 votes
    10y

    Hi @Mike Wilson and welcome to BP. At BP, you can connect to other real estate investors while finding great real estate information. I wish you all the best. You are not alone in your real estate ambition. 

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  • Courtney Jones
    Rental Property Investor · Dayton, OH · Member since 2016 · 210 posts · 160 votes
    10y

    welcome aboard @ Mike Wilson.  

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Mike Wilson caution on NPN careful not to drink the coolaid..

    the most complicated transaction you can do with the most risk.. anyone telling you that NPN are cake walk and your going to make all this money.... people that are and have been in foreclosure do not change their stripes.. I have extensive experience at this over the last 20 years.

    if you can make a business out of this then yes IE you have million in cash to deploy but to do one off your raking inordinate risk

    Go to Rarebird meetings here in PDX this a great group of folks..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
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  • Randy Johnston
    Residential Real Estate Broker · Beaverton, OR · Member since 2014 · 335 posts · 149 votes
    10y

    @Mike Wilson, Welcome to BP, I also live in Beaverton and love the area.

    @Jay Hinrichs has a lot of experience in real estate investing in general. It seems he's done just about everything you can imagine, and then some, so I would listen to his advice when it's given. :-)

    I don't invest in notes of any kind, though I've given it some thought, so I can't give you any advice on that subject. But he's right about Rarebird (www.myrarebird.com), they have monthly meetings attended by investors of all kinds and it's a great place to network. I'd also suggest that you look into Northwest REIA (www.northwestreia.com) as they also hold monthly meetings and have a great group of investors as well.

    Good luck to you.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Randy Johnston  there is also the BP meet up on the 19th this month that the OP might want to attend.. I am going to try to make it I have one of my partners from Singapore in town .. so this might give us something to do that is different and exciting...

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
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  • Say Teoh
    Residential Real Estate Broker · Portland, OR · Member since 2016 · 92 posts · 31 votes
    10y

    Welcome to BP Mike! Lots of things to learn here and the amount of experience is just amazing! Listen to @Jay Hinrichs, he has seen and done it all.. I am also in the Beaverton area, let me know if you want to grab lunch or coffee.

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  • Randy Johnston
    Residential Real Estate Broker · Beaverton, OR · Member since 2014 · 335 posts · 149 votes
    10y

    @Mike Wilson, @Jay Hinrichs just reminded me about the BP meet-up happening this Tuesday, April 19, at 6:30 p.m., at the Green Dragon in SE. Here's a link to the thread.

    BP Meet-up in SE

    Hope to see you there.

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  • Mike Wilson
    OP
    Beaverton, OR · Member since 2016 · 6 posts · 1 vote
    10y

    Thanks @Jay Hinrichs & @Randy Johnston for the feedback!  Unfortunately I can't make the meetup but will try for the next one.  Enjoy some beers on this gorgeous day. Until then I will continue learning from the great BP community and will keep an eye on the Beaverton/PDX market.

    Cheers!

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